A book of three parts

The first part of this book tells the story of a fictitious
business, FinServ, and the transformation it undergoes as it
becomes purpose-led. The story begins with an organisation that has
a proud history, strong commercial capabilities and an enviable
market position. Yet, there is a recognition that "something is
missing". The resultant journey of discovery and realisation serves
as a metaphor for what we typically see when we work with
organisations that embrace purpose.

The second part of this book is a "how-to" guide. It explains
what happens during each of the four stages that we recommend
organisations traverse, as they bring purpose to life.

Nine CEOs have generously shared their experience of
leading organisations as they become purpose-led. Their stories are
detailed in part three. They provide a unique, first-hand
account of their aspirations, the struggles they encountered
and the benefits they witnessed. Their stories are testament to the
potential that purpose unveils and we are grateful for their
contribution.

An extract from Part 2

The potential of purpose

We have had the privilege of supporting many organisations to
become purpose-led. Although there are differences in the way each
approaches this exercise, the benefits gained are profoundly
similar.

Ultimately, a greater sense of collective meaning and
organisational identity is articulated through identifying and
embedding purpose.

Purpose taps into a yearning for meaning that cannot be met
simply by a set of objectives or financial targets. Connecting with
a sense of collective meaning that provides a tangible reason for
our personal endeavours is deeply enriching and fulfilling. Once
clarified and embedded within organisational culture, it transforms
the experience of employees and their engagement at work

Organisations with a strong sense of purpose, clear vision, well
defined values and a clear strategic direction resonate a clear and
compelling story from the inside-out. This drives customer
connection and loyalty, particularly when that story becomes
infused within the organisational brand. Done well, this will drive
growth, productivity and higher shareholder return over the
long-term.

Purpose enables bolder decision making and provides
organisations with much needed ballast during the inevitable storms
that challenge commercial endeavour. As purpose permeates through
an organisation's fabric, it builds resilience, genuine
differentiation and a formidable and sustainable competitive
advantage.

That is the potential of purpose.

Many organisations are bereft of purpose

Like you, we more commonly see organisations bereft of purpose,
or those whose efforts at embedding purpose have withered or
died.

In the absence of purpose, organisations almost inevitably
become focused on metrics expressed as financial targets or growth
objectives. This is often communicated as a desire to "maximise
earnings and grow shareholder value". While this model can drive
strong short-term results, it misses our human need for purpose and
our desire to engage in meaningful work. It fails to optimise
employee and customer engagement and in our view is a limited and
ultimately unsustainable model.

Four critical ingredients to success

In our experience, four ingredients are critical for a
successful purpose journey.

i. A genuine desire to make a difference

Purpose is borne of a desire to make a contribution to
something greater than self. It is rooted in our quest to find
something worthy to serve that is meaningful and fulfilling. It is
an articulation of our collective intent to contribute and improve
the lot of humanity, and includes the genuine desire to improve the
working lives of employees.

ii. Your CEO must sponsor the journey

Only your CEO has the authority, credibility and influence to
sponsor purpose in an organisation. It is essential that your CEO
is fully invested in purpose and committed to leading through every
stage of the journey.

iii. An inclusive and participative process

A "top down" project, in which purpose is delivered Moses-like
from the mountain, almost inevitably fails, as employees feel as
though it is being done "to" them rather than "with" them. Ideally
opportunities will be created forall employees to actively
participate in such a way that they feel it is done "by" them and
that they jointly own the purpose.

iv. A genuine and sustained leadership
commitment

Purpose is not a short-term fix, nor is it something that can be
delivered within a tight time frame. It requires a genuine and
sustained leadership commitment for it to be meaningfully embedded
within your culture and become your new way of organisational
life.

Our framework for becoming a purpose-led organisation

We typically guide organisations through these four stages when
partnering with them on a purpose journey.

Stage 1: Commit

Stage 2: Discover

Stage 3: Engage

Stage 4: Embed

What follows is a detailed expose of the important components
within each stage.

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